Collective defined contribution (CDC) schemes risk creating "irreversible intergenerational injustice" and could undermine pension freedoms, Michael Johnson says.
There is a possibility that current and future employees could end up overpaying for the benefits of current pensioners, and the lack of "individual property rights" places the mooted scheme type "at odds"...
Now authorisation has ended for existing schemes, Kim Kaveh reflects on the process and asks what the future holds for ongoing supervision.
Capita has signed up to the government-backed Star Initiative, taking its total number of participants to 50.
Smart Pension and Australian administrator Link Group have entered a strategic global partnership to take their “combined expertise” into new markets in the UK and globally.
Cost savings of up to 20% could be made by pension schemes if they move to a defined contribution (DC) master trust, according to Hymans Robertson analysis.